Report : EV Charging Infrastructure Market to 2027 - Global Analysis and Forecasts by Platform (Hardware and Services), Hardware (AC Charger and DC Charger), and Charger Type (Public Chargers and Private Chargers)
EV Charging Infrastructure Market to 2027 by Platform (Hardware and Services), Hardware (AC Charger and DC Charger), and Charger Type (Public Chargers and Private Chargers)
The EV Charging Infrastructure market is experiencing high growth in the forecast period. The growth of the market for an EV Charging Infrastructure solution is highly influenced by the substantial increase in the adoption of public as well as private electric vehicles the globe. With the increasing environmental concern around the world, the automotive manufacturers are focusing on reducing it by adopting advanced technologies. The conventional vehicles such as internal combustion engine vehicles (ICEVs) uses fossil fuels and emit Greenhouse Gas (GHG). The only viable substitute for fuel-based vehicles is electric vehicles such as battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs). The continuous boost in the adoption of electric vehicles mainly across the US, China, Germany, and many other developed countries globally is demanding the EV charging infrastructure for the charging purposes both for commercial as well as residential applications. The governments across the world have introduced several incentives for vehicle owners to increase the adoption of electric vehicles with a strong focus on environmental concerns. This factor is bolstering the growth of the market for EV Charging Infrastructure in the current scenario.
The EV Charging Infrastructure market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. The Asia Pacific has several growing economies, which is leading the growth with a wide variety of sectors, including manufacturing, construction, technology, and others. Many emerging economies in the APAC region are considered to be developing economies and therefore attracting investment from regulatory bodies of these countries to bring enhancement in their technologies. This would eventually propel the growth and adoption of electric vehicle across various countries which drive the demand of EV charging infrastructure in the market. Whereas, Europe, followed by North America, holds the highest market share in the EV charging infrastructure market. The EV charging infrastructure market is expected to experience significant growth in the coming years due to the increase in the instances of spamming and fraudulent activities globally.
In APAC, the Chinese market for EV charging infrastructure has already reached its maturity level regionally and globally, whereas Japan market is an emerging one with the intense focus towards the development of EV charging infrastructure. A Chinese state-owned enterprise named as The State Grid Cooperation has the overall control of the on-highway EV charging stations. Likewise, the off the highway EV charging infrastructure is operated through private companies. In Europe, the stringent rules and regulations to reduce the rising quantity of CO2 in the air by different European governments have led the population to adopt an increased number of EVs. Thus, catalyzing the growth of installation of EV charging infrastructures in the countries and therefore, the EV charging infrastructure market in the country is anticipated to boom in the frecast period.
The major players operating in the market for EV charging infrastructure market include ABB Ltd., ABM Industries Incorporated, Bosch Automotive Service Solution, ChargePoint, Inc., Delta Electronics, Driivz Ltd., EVbox, Leviton Manufacturing Co., Inc., Siemens AG, and Tesla, Inc. among others.
The report segments the global EV charging infrastructure market as follows:
GLOBAL EV CHARGING INFRASTRUCTURE MARKET — BY PLATFORM
GLOBAL EV CHARGING INFRASTRUCTURE MARKET — BY HARDWARE
GLOBAL EV CHARGING INFRASTRUCTURE MARKET — BY CHARGER TYPE
GLOBAL EV CHARGING INFRASTRUCTURE MARKET – BY GEOGRAPHY
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